A professional that manages all accounting-related business activities is known as an account specialist. A career as an account specialist might be appropriate for you if you enjoy dealing with statistics, are task- and detail-oriented, and enjoy working alone. In this article, we define an account specialist, examine the duties of persons in this position, provide a step-by-step tutorial on how to become one, identify the job description and the salary ranges.
Account Specialist
Account specialists are experts in accounting who concentrate their efforts on making sure a business or organization’s finances are managed effectively and in compliance with the law. People in this position compile tax forms, file accounting records for the business, and analyze data including financial documents and reports. Account specialists can use their knowledge to support financial and accounting operations in a range of settings.
In one of the following concentrations, you could pursue a job as an account specialist:
- Tax accounting
- Information systems accounting
- Public accounting
- Governmental accounting
- Managerial accounting
- Financial accounting
- Governmental accounting
- Cost accounting
- Tax accounting
- Forensic accounting
Account Specialist Job Description
The financial records of businesses are kept up to date by an account specialist or bookkeeper as per their job description. They record three things which are: financial data, handle payments, and balance accounts.
Accounting Specialist Experience Requirements
The type of team candidates are joining at your organization will determine how much experience they need to function well in Accounting Specialist employment. Little to no experience may be required if the new employee will be a part of a sizable accounting team and collaborate with other Specialists and Accountants. Focus on applicants with five or more years of experience if your small business relies on the Accounting Specialist to handle all of your accounting needs. Senior Account Specialists who mentor or oversee other experts will probably also require a good deal of experience.
Accounting Specialist Education and Training Requirements
The minimal educational requirement for Account Specialist positions is typically a high school diploma plus some college accounting study. Some firms, though, might favor hiring applicants who have an associate’s or bachelor’s degree in accounting or finance or who are Certified Bookkeepers (CB). This certification is given to Account Specialists who have at least two years of full-time job experience in the industry by the American Institute of Professional Bookkeepers (AIPB). Additionally, prospective CBs are required to undergo a four-part exam and swear allegiance to a code of ethics.
Account Specialist Salary
The average hourly salary for an account specialist in the US as of June 21, 2023 is $23.83. In the United States, the majority of Accounting Specialist salaries currently fall between $19.47 (25th percentile) and $26.44 (75th percentile). Because the typical income for an accounting specialist can vary significantly (by as much as $6.97), there may be many prospects for wage increases and development based on experience, location, and skill level. Some local average hourly salary for an account specialist is $24, which is $0.32 (1%) greater than the $23.83 national average.
What are the Top 5 Highest Paying Jobs for Related Accounting Specialists in the United States?
There are at least five positions in the Accounting Specialist job category that pay more annually than the average Accounting Specialist salary, according to our research. Director of Corporate Accounting, International Accounting Manager, and Accounting Systems Manager are a few prominent examples of these positions.
Importantly, the pay for all of these positions is higher than the average Accounting Specialist salary of $49,566 by a range of $65,400 (131.9%) to $82,836 (167.1%). If you meet the requirements, you might be able to earn more money than the average Accounting Specialist position by being hired for one of these similar positions.
What Does An Account Specialist Do
The particular duties you perform as an account specialist can change based on your location, the size of the business you work for, your level of expertise, and whether you are a full-time or part-time member of the accounting team. These duties often consist of the following:
- Keeping records of financial transactions
- Preparing business tax returns
- Doing bookkeeping
- Ensuring that the business adheres to the law
- Reconciling credit card and bank accounts on a quarterly and annual basis.
- Conducting annual financial audits of the business
- Going over financial reports
- Providing assistance with finances and accounting to corporate departments
- Creating department- and company-specific budgets
- Working with departments to examine financial data
- Examining the records of particular departments
- Recommending to departments particular financial measures to be taken
Account Specialist Skills
The following are often among the competencies of common account specialists:
- Math: These abilities relate to the capacity for quick computations in math. Account professionals frequently use quick calculations to come up with numbers for records and statements.
- Attention to detail: These abilities speak of paying close attention to financial matters. These abilities are possessed by account specialists to guarantee that financial paperwork be prepared and reported appropriately.
- Analytical: These abilities involve the capacity to thoroughly examine written materials, numerical data, reports, and records. Account specialists take their time reviewing these to make sure they are accurate and to establish specific strategies.
- Technology: These abilities relate to the capability of using various online software and apps to carry out accounting tasks. Technology can simplify and hasten accounting procedures.
How to Become an Account Specialist
If you take a few simple steps, becoming an account specialist can be a simple and effective procedure. There may be more or fewer stages for you to do to become an account expert, depending on the exact business you’re interested in working for and its unique job requirements. Some typical actions include:
1. Obtain a College Degree
Most account specialists hold a bachelor’s degree in one of the following fields, although most hold at least an associate degree in these fields.
- Accounting
- Business management
- Finance
- Business
- Enterprise analytics
Although it’s less frequent, some account experts also hold a master’s degree in one of these fields. A college degree can highlight your potential as an account specialist, make you stand out to hiring managers, and potentially boost your chances of landing a job.
#2. Acquire Knowledge
A crucial step in developing the abilities required to function as an account expert is acquiring practical experience in the industry. This experience can be obtained by working as a current account specialist or other form of accounting professional’s assistant. To understand the fundamentals of a position as an account expert, you might also complete an internship with an emphasis on accounting. Another option to develop your accounting skills is to take on an entry-level position.
It’s typical to seek out some kind of accounting experience while in college. Getting this kind of experience will help you improve your accounting abilities as well as broaden your knowledge of the industry.
#3. EResearch Job Postings
You can start looking for open employment once you have the education, experience, and abilities required to become an account expert. You can look for job posts online on websites dedicated to that purpose, on social media, via interacting with people in person, in newspapers, or on company websites. Also, you can think about submitting an application for one of the many open account specialist positions in various regions.
#4. Go Through Training
Once you land a job as an account specialist, you might take part in some training. The activities that are relevant to your employment may not be covered in this training, but rather the programs, technologies, and business policies that you should be knowledgeable about as a staff member. This instruction may last a few days or several weeks.
What Does an Account Specialist Do on A Resume?
to land a job as an accounting specialist so I can use my understanding of accounting concepts, methods, and practices to make sure financial records are accurate.
What Is the Career Path for Account Specialist?
They could begin in a position like billing specialist, advance to a title like accounts receivable specialist, and then ultimately hold the titles of accountant and office manager.
How Much Does an Account Specialist Earn in THE US?
The 25th percentile is $36,000. Payscales below this are unusual. The 75th percentile is $52,000.
What Is the Difference Between an Accountant and an Accounting Specialist?
An accounting expert has a higher advantage over an accountant in terms of experience, exposure, and salary because they are familiar with the organization’s core financial areas, whereas an accountant’s role is to manage the books of one specific financial line item.
Is Account Manager a Stressful Job?
A rigorous and rewarding vocation, account management can often be stressful and frustrating.
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